YouBet said:

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Insurance is a commodity. Shop it.

You might be surprised at how much you can save simply using a broker who does this for you.

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Is it? Customer service seems to vary wildly.

I'm sure you can get really low rates from the general or Cancun insurance, but I doubt they're worth much.

double aught said:

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YouBet said:

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Insurance is a commodity. Shop it.

You might be surprised at how much you can save simply using a broker who does this for you.

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Is it? Customer service seems to vary wildly.

I'm sure you can get really low rates from the general or Cancun insurance, but I doubt they're worth much.

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I would argue it varies wildly from person to person within the same company. USAA (as an example) is proof of that. I've read for years now how much it has declined from many, many people. You will still find good experiences as evidenced on this thread, but their decline has been a recurring theme for a while.

Dealing with several events over the years across a few different providers and the CX is almost an event by event occurrence on what you are going to get. I would rather save as much money as possible over time. Just my opinion though and as soon as I type this something will happen and we will probably have a terrible experience with current insurance provider. However, broker can also help with some of that too.

rlb28 said:

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Independent insurance agent here... got to work this morning and had an email from my wife's childhood friend: "I think I am getting taken advantage of by USAA and would like to get some quotes."

USAA total policy premium: $5,923.51
What we found: $3,754 (with a lot more bells and whistles)

People need to shop their homeowners every other year!

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I don't think anyone will dispute that you can probably save money shopping your insurance regularly. The question becomes, is it worth it. People like to talk about their low rates, until it comes time to file a claim. I live in McKinney, and we regularly have damaging storms come through. And every time that happens, I hear countless stories of issues people are having getting repairs done and covered through their insurance. Good friend of mine that lives in my area recently suggested I contact her agent. Of course, she added the caveat that when they have had claims, it's like pulling teeth to get things done.

Quote:

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it's like pulling teeth to get things done.

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honestly, no matter the company, claims have gotten worse and worse over the years.

We sell a ton of Progressive auto insurance. I've been doing this 15 years and can count on one hand the number of "problems" I've had with their claims office. But, we have people who won't let us write their insurance with Progressive because they've heard of a bad claim experience from a friend.

Also, there are people on several Texags threads talking about bad claims experience with USAA. How about paying wayyyy too much AND getting bad claims service.

rlb28 said:

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Independent insurance agent here... got to work this morning and had an email from my wife's childhood friend: "I think I am getting taken advantage of by USAA and would like to get some quotes."

USAA total policy premium: $5,923.51
What we found: $3,754 (with a lot more bells and whistles)

People need to shop their homeowners every other year!

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A few years ago I was on a conversation with a USAA rep about why their quoted premium on my new TX home was basically the same as the premium I paid on our CA home that was worth double. He admitted to me that USAA is not competitive in TX and FL. I appreciated his honesty and switched my insurance.

To other comments, yes their auto is still relatively competitive and their service is good, but the exorbitant home made it better for me to move both (can get really good bundling deals elsewhere).

Insurance companies in general are some of the biggest advertisers in the world.

Jtraggie99. Please post your experience with third party diminished value claims. I am astonished that so few people know anything about this aspect of loss recovery following damage to cars in collisions. Please see my posts on the subject.___ Same questions for rib28, deadbq03 and any insurance agents. What's the story on this little known coverage that is not specifically stated in policies?

Have a good buddy in advertising. Insurance companies spend a ton (and can do whatever crazy ass advertising they want) because who needs insurance? EVERYONE. It's not some stupid Peralta or butt fungus medication commercial. It's one of the most common commodities purchased that isn't actually priced like a commodity (as can be seen on this thread).

Yes, auto insurance is commodity-like and it is regulated; but like cotton, there are different grades and prices.

USAA got so much extra cash they sponsoring the NFL playoffs and hiring Gronk to do commercials.

deadbq03 said:

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rlb28 said:

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Independent insurance agent here... got to work this morning and had an email from my wife's childhood friend: "I think I am getting taken advantage of by USAA and would like to get some quotes."

USAA total policy premium: $5,923.51
What we found: $3,754 (with a lot more bells and whistles)

People need to shop their homeowners every other year!

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A few years ago I was on a conversation with a USAA rep about why their quoted premium on my new TX home was basically the same as the premium I paid on our CA home that was worth double. He admitted to me that USAA is not competitive in TX and FL. I appreciated his honesty and switched my insurance.

To other comments, yes their auto is still relatively competitive and their service is good, but the exorbitant home made it better for me to move both (can get really good bundling deals elsewhere).

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Hurricanes. USAA just left the state of FL for a few years after some bad storms in the early 2000s. I guess they got burned so they probably are purposely very risk averse in hurricane states.

Florida insurance in recent years is bonkers as well.

Going through shenanigans on a condo I own there. Many insurance companies leaving the state. Rate is up over 100% this year on the condo community.

Also, FL home owners seeing 50% increases. It's a mess in Florida the past 2-3 years from storms and insurance companies spending more on lawyers in the state than they are in paying claims.

Car insurance also seems to have risen the past year. Not sure if it's some how ripple effect from covid lock downs and vandals or what, but insurance just seems out of control.

Been a USAA member since I was a teenager. Auto insurance isn't the cheapest, but every time I've had a claim (including a stolen truck) they've been great to work with and gave me a good amount of money back. Home insurance is definitely pricey through them, so we went elsewhere.

I used to be a member of their credit union, but some time ago they decided to restrict that to service members only (not USAA employees anymore). So I have a bank account with them instead.

I got my member number through my dad, who worked at USAA 40+ years. Used to, spouses of children of employees could bank through USAA. About 5-6 years ago we tried to get my husband switched over to USAA banking and they had changed the policy and he was no longer eligible.

Wyoties said:

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My few experiences with claims have been remarkable. Friend and I even joke if you're having a bad day just call USAA to lift you up.

Because of that I've never shopped around, but learning our rates have crept well above what they probably should, considering hardly any claims over last +10 years, so may make the switch if attractive enough and good reputation.

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I'm on this page of things, but I haven't shopped in ages.

I just know that every time I've had an issue or claim, it has been dealt with immediately and with them asking if they can do anything else.

If your car was in a collision caused by a USAA insured, you might inquire about payment for loss of value-a real loss- to your car. You might ask USAA to review the scope of damage and cost of repairs and ask how much USAA will offer for loss of valve based on "factors" used by USAA. Two years allowed to make a claim in Texas. Good luck. I got a settlement that was about 25 percent of the hit that I took on trade-in. I will never buy a policy from USAA at any price!

swimmerbabe11 said:

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Wyoties said:

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My few experiences with claims have been remarkable. Friend and I even joke if you're having a bad day just call USAA to lift you up.

Because of that I've never shopped around, but learning our rates have crept well above what they probably should, considering hardly any claims over last +10 years, so may make the switch if attractive enough and good reputation.

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I'm on this page of things, but I haven't shopped in ages.

I just know that every time I've had an issue or claim, it has been dealt with immediately and with them asking if they can do anything else.

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36 year member here. I don't care if I pay a little more. Their customer service is amazing. They've been very kind to me and my family, especially when my father was dying.

They take care of their members.

ChoppinDs40 said:

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Have a good buddy in advertising. Insurance companies spend a ton (and can do whatever crazy ass advertising they want) because who needs insurance? EVERYONE. It's not some stupid Peralta or butt fungus medication commercial. It's one of the most common commodities purchased that isn't actually priced like a commodity (as can be seen on this thread).

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I'm sorry, but I have to imagine that butt fungus is unlikely to be the thing where you say "ehhhh… I can live with this."

Also happy with USAA. Had a car flood in a parking lot in 2018. They paid out quickly with a fair offer faster than competitors from speaking with others impacted.

Homeowners has risen 50% in three years, but when I got quotes this year I could only save a few hundred dollars unless I went with a no name brand that had terrible reviews online. The whole homeowners market seems to have gone insane with all the large losses from hurricanes, freeze, etc.

hedge said:

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USAA sucks



i have accounts with them

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USAA when it was limited to officer's and their direct family was effing awesome.

USAA today where everyone who has ever driven past a base qualifies is just another bank or insurance provider.

Does insurance get capped on profits based upon a percentage of payouts plus expenses? If so, massive advertising spend would just increase their profits most likely. With USAA giving the "dividend" back every year cause they charge so much more than they pay out, they definitely have room to increase expenses if that automatically gets them additional profit (via not having to send out those dividend checks).

Color me one of the ones burned after 40 years of loyal membership. I dropped them like a hot potato and haven't looked back with more money in the bank.

I'm one of those people, grandpa was army so now all my aunts, uncles, cousins etc …. Qualify

I've had usaa since the early 2000s. Auto claims have always been good but I've been working on a roof claim for months. I had obvious hail and wind damage. The first adjuster said $400 to replace one shingle. Fought with then for weeks. Sent more pictures and roofer quotes. Second adjuster said i need a new roof. Crazy. Will probably dump then soon.

There's a poster on here that always says 'insurance is a commodity, shop it.'

Dude is right.

This sunk in too late in life.

I think its probably the best thing for the insurance market they do this,

If any regulated insurance product is gonna be about the same. Your only choice is whether you on team Jake, Flo or you ridin the Emu,

Theres no real reason that any one company would be better than others. The policy limits are the policy limits, one way or the other. After that, you on your own. Its a difference in how you get there, because you are going to the exact same place. With any company.

With the computing power we have nowadays. There cant be that much difference in how these companies are evaluating risk and predicting losses.

When you get to the reinsurance market it all comes out of the same 4 or 5 pots.

I bet there are banks of supercomputers constantly evaluating trends, trying to predict losses, creating different models.

So the point is, requote your insurance every year.

Not saying you got to switch if you are happy with what you got. But at least you know where your at, and most people would happily spend that money somewhere else. Go to the thai massage place once a month, buy a damn chickfila nugget tray once a month, good golf, tennis or whatever makes you happy.

I think the best thing you can do as an individual is to get those dollars in circulation locally, rather than back to an insurance company and on up the chain. … wherever that ultimately leads.